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Tariffs Are Latest Challenge For Tortured US Housing Market
Average mortgage rates in the US are the lowest this year, but would-be homeowners aren't biting.
The latest update from the MBA on Wednesday found financing costs inching lower for a third week, but application activity nevertheless receded, led by a drop in refis.
It's reasonable to suggest that anyone who wanted a home and could afford to buy one with prices at record highs and mortgage rates elevated (by post-GFC standards, anyway) already took the plunge. If that's even partially true, th
This is a red flag for employment slowdown and lower interest rates. Fiscal hawks are still braying about inflation…after president musks finishes we are going to be praying for inflation
As layoffs increase so should housing inventory. Consumer debt-laden folks, with equity in their homes, will be forced to sell and downsize their homes. A severe market correction could take out many over-levered retail bros and they too would have to sell and downsize. The massive equity in US housing stock could go poof once the prices for homes really start falling. A race to the bottom. It’s not like this has never happened before. And not that long ago. Just for a different reason this time. No one at the top got in trouble last time.
Don’t suspect the new crowd at the top this time will either.